Business
Biodesix Announces Second Quarter 2021 Results and Highlights
Second Quarter 2021 Revenue of $11.9 Million Increased 180% and Lung Diagnostic Revenue of $4.8 Million Increased 109% over Second Quarter 2020 Announcing
About this update from Biodesix, Inc.
[{"type":"text","content":"\nSecond Quarter 2021 Revenue of $11.9 Million Increased 180% and Lung Diagnostic Revenue of $4.8 Million Increased 109% over Second Quarter 2020\n\nAnnouncing Acceleration of the Launch of the 72-hour liquid NGS Test to Early First Quarter 2022\n\nConference Call and Webcast Today at 4:30 p.m. ET\n\n BOULDER, Colo.--(BUSINESS WIRE)--\nBiodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company with a focus in lung disease, today announced its financial and operating results for the second quarter ended June 30, 2021 and provided a corporate update.\n\n“It was a productive quarter with 180% year over year growth in total revenue. Our first four blood-based tests which make up our core lung diagnostic testing, grew 109% year over year and 20% over the prior quarter,” said Scott Hutton, CEO of Biodesix. “We expect growth in core lung diagnostic testing to continue through 2021 driven by the U.S.’s emergence from the pandemic, productivity from our growing salesforce, and our efforts to build on the body of evidence supporting the use of our tests. Beyond our currently marketed products, we also continue to develop our Diagnostic Cortex® Artificial Intelligence (AI) platform and expand our pipeline of products capable of providing broad lung diagnostics to address patients' needs over the course of their disease. The launch of our 72-hour liquid NGS test is now projected for the first quarter of 2022 and will supplement our 36-hour VeriStrat and GeneStrat tests. With this accelerated launch and multiple studies underway for our Risk of Recurrence (ROR) and Primary Immune Response (PIR) tests as well as our ALTITUDE, BEACON, INSIGHT, and ORACLE prospective studies actively enrolling or following patients, we look forward to a productive and exciting second half of the year.”\n\nSecond Quarter 2021 Financial Results\n\nFor the three-month period ended June 30, 2021, as compared to the same period of 2020 (where applicable):\n\n\nTotal revenue of $11.9 million, an increase of 180%;\n\n\n\n\nCore lung diagnostic revenue of $4.8 million, an increase of 109%;\n\n\nContinued sequential recovery from initial rapid uptake of COVID-19 immunizations.\n\n\nGrowth driven primarily by Nodify XL2® and Nodify CDT®.\n\n\nNodify XL2 growth triggered the previously disclosed milestone resulting in a $37 million obligation payabl...